Buy to Renovate vs Ready to Move In – What’s Better in Bangkok? | CondoDee Guide

When buying a condo in Bangkok, the decision often narrows down to two distinct strategies: purchasing a ready-to-move-in (RMI) unit or opting for an older unit that can be renovated to suit your style and purpose (Buy-to-Renovate or BTR). While both options can be lucrative and practical depending on your situation, they cater to different mindsets, budgets, and timelines. In this comprehensive guide, we analyze both strategies using real pricing data, renovation costs, ROI expectations, and location-specific trends across Bangkok’s key residential districts.

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🏢 Bangkok Condo Prices by Area (PSM)

Understanding Bangkok’s property market requires looking closely at each neighborhood. For this article, we focus on three central areas that are highly popular among both local and foreign buyers:

Low Sukhumvit (Nana – Ekkamai)

This area is Bangkok’s urban heartbeat, bustling with nightlife, shopping, dining, and international schools. It’s a magnet for expats and investors. Many buyers looking to enter the market here seek out older buildings that are structurally sound but cosmetically dated, offering a prime opportunity to renovate and create a modern space at a fraction of the price of a new development.

• Ready-to-Move-In (RMI): Typically priced at around ฿170,000/sqm (USD 4,860), condos here often come fully furnished with modern amenities.
• Buy-to-Renovate (BTR): Older units are available from ฿60,000 to ฿70,000/sqm (USD 1,700–2,000), particularly in buildings aged 20+ years.

Ploenchit – Chidlom – Langsuan

Often referred to as Bangkok’s version of the Upper East Side, this luxury triangle attracts high-end residents, embassy staff, and C-level professionals. Here, the difference between brand-new and aged luxury condos can be stark, and the potential for return via renovation is high.

• RMI: ฿270,000/sqm (USD 7,700) is a typical rate for new, high-rise luxury developments.
• BTR: Units in older buildings start around ฿120,000–฿150,000/sqm (USD 3,430–4,290).

Sathorn – Silom

This business district blends upscale residential towers with international offices and cosmopolitan energy. With a steady influx of professionals and diplomats, rental demand is strong, making it an excellent area for both RMI and BTR strategies.

• RMI: Around ฿250,000/sqm (USD 7,140).
• BTR: Older units range from ฿100,000 to ฿130,000/sqm (USD 2,860–3,710).

Each of these areas offers different advantages depending on your investment horizon and personal preferences. Some buyers focus on proximity to mass transit and lifestyle amenities, while others target school zones or future resale value.

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🛠️ What Goes Into a Renovation?

Renovating a condo in Bangkok can be a transformative experience, but also a logistical one. Depending on your vision, the work can range from minor cosmetic upgrades to full structural alterations. Most commonly, buyers undertake a mid-level renovation which includes new flooring, updated bathrooms and kitchens, and added storage or lighting features. Here are the common elements of a Bangkok condo renovation:

• Demolition and preparation – Removal of old materials and finishes
• Plumbing and electrical updates – Especially important in buildings 15+ years old
• Custom carpentry – Built-in wardrobes, kitchen units, and shelves
• New flooring – Laminate, engineered wood, or tiles
• Bathroom refit – Fixtures, tiles, mirrors, and water heater
• Lighting – Upgraded to LED and modern switches
• Painting and decorative finishes – Wall colors, trims, wallpaper

Depending on contractor availability and unit accessibility, the timeline varies:

• Standard renovation: ~1 month
• Mid-range renovation: 6–8 weeks
• Luxury/complex renovation: 3+ months, possibly more for imported materials

The cost varies accordingly, but buyers typically report 20–35% savings on a renovated unit compared to a new RMI of the same quality and location.

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📈 ROI and Value Appreciation

Beyond the initial savings, the long-term financial upside of a renovation project can be significant. Let’s look at both rental yield and resale value uplift:

Rental Yield

Buy-to-renovate units often yield higher returns due to their lower entry cost and the enhanced appeal of a newly fitted-out space. For instance:

• A ฿75,000/sqm BTR unit in Low Sukhumvit rented at ฿550/sqm/month gives a gross yield of 8.8%
• A comparable RMI unit at ฿170,000/sqm earns the same rent but yields just 3.9%

This rental spread makes BTR particularly attractive for long-term investors targeting steady cash flow.

Resale Value Uplift

Renovated units typically command higher resale prices compared to their pre-renovation value, especially when quality finishes and smart layouts are added. In popular areas like Ploenchit or Sathorn, well-executed renovations may increase resale value by 15%–30%, making them appealing to flippers or owners planning to sell in 3–5 years.

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🧠 Strategic Recommendations

So, which path is right for you? Choose Buy-to-Renovate if:

• You’re not in a rush to move in
• You’re comfortable overseeing a renovation or hiring a project manager
• You want more control over the interior design
• You aim for better rental yield or long-term resale gains

Choose Ready-to-Move-In if:

• You need a home or rental unit immediately
• You prefer a turnkey, stress-free option
• You value time over cost savings
• You have limited experience managing contractors

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🧭 Final Thoughts

Bangkok’s real estate market offers a diverse range of opportunities. Whether you’re looking for an investment with upside potential or a stylish new home in the city, both RMI and BTR paths can deliver strong results when aligned with your goals. The best strategy is the one that fits your timeline, budget, and lifestyle vision. If you’re unsure where to begin, explore our renovation-required listings, or browse our price-reduced properties and recommended condos for sale to get inspired. You may also find these external resources useful:

• Bangkok Post – Real Estate News
• Thailand-Property.com
• DDproperty – Market News
• Colliers Thailand Research
• Numbeo – Bangkok Property Data

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📞 Contact CondoDee for Expert Advice

Office: 2nd Floor, 50 Sukhumvit 15, Khlong Toei Nuea, Watthana, Bangkok 10110 Phone: +66 2 038 5897 Mobile / WhatsApp: +66 62 189 5698 LINE Official: @realty Email: win@condodee.com

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